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TERMINATION AGREEMENT

Termination Agreement

TERMINATION AGREEMENT | Document Parties: COMPETITIVE TECNOLOGIES, INC | FUSION CAPITAL FUND II, LLC | FUSION CAPITAL PARTNERS, LLC | ROCKLEGE CAPITAL CORPORATION You are currently viewing:
This Termination Agreement involves

COMPETITIVE TECNOLOGIES, INC | FUSION CAPITAL FUND II, LLC | FUSION CAPITAL PARTNERS, LLC | ROCKLEGE CAPITAL CORPORATION

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Title: TERMINATION AGREEMENT
Governing Law: Illinois     Date: 8/5/2009
Industry: Business Services     Sector: Services

TERMINATION AGREEMENT, Parties: competitive tecnologies  inc , fusion capital fund ii  llc , fusion capital partners  llc , rocklege capital corporation
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                             TERMINATION AGREEMENT

     TERMINATION AGREEMENT (the "Agreement"), dated as of August 5, 2009, by and
between COMPETITIVE TECHNOLOGIES, INC., a Delaware corporation, (the "Company"),
and  FUSION  CAPITAL  FUND  II,  LLC, an Illinois limited liability company (the
"Buyer").

     WHEREAS,  the Buyer and the Company mutually desire to terminate the Common
Stock  Purchase  Agreement dated as of July 22, 2008, by and between the Company
and  the  Buyer  (the  "Purchase  Agreement") and the agreements entered into in
connection  with  the  Purchase  Agreement.  All  capitalized terms used in this
Agreement  that  are  not  defined in this Agreement shall have the meanings set
forth  in  the  Purchase  Agreement.

     NOW  THEREFORE,  the  Company  and  the  Buyer  hereby  agree  as  follows:

     1.  TERMINATION  OF  THE  PURCHASE  AGREEMENT.

     The  Purchase  Agreement,  and  the other Transaction Documents between the
Buyer  and  the  Company  related  to  the  Purchase  Agreement (other than this
Agreement) are hereby terminated effective as of the date hereof and any and all
rights,  duties  and  obligations  arising  thereunder or in connection with the
Purchase  Agreement,  and  the Transaction Documents are now and hereafter fully
and  finally  terminated,  provided,  however,  that (i) the representations and
warranties  of  the  Buyer  and  Company contained in Sections 2, 3 and 5 of the
Purchase  Agreement,  (ii) the indemnification provisions set forth in Section 8
of  the  Purchase Agreement, and (iii) the agreements and covenants set forth in
Section  11  of  the Purchase Agreement shall survive such termination and shall
continue  in  full  force  and  effect  (the  "Surviving  Obligations").


     2.  MISCELLANEOUS.

     (a)  Governing  Law; Jurisdiction; Jury Trial. All questions concerning the
construction,  validity,  enforcement and interpretation of this Agreement shall
be governed by the internal laws of the State of Illinois, without giving effect
to  any choice of law or conflict of law provision or rule (whether of the State
of  Illinois or any other jurisdictions) that would cause the application of the
laws  of  any  jurisdictions other than the State of Illinois. Each party hereby
irrevocably  submits  to  the  exclusive  jurisdiction  of the state and federal
courts  sitting  in  the  City  of  Chicago, for the adjudication of any dispute
hereunder  or under the other Transaction Documents or in connection herewith or
therewith,  or with any transaction contemplated hereby or discussed herein, and
hereby  irrevocably  waives,  and  agrees  not  to assert in any suit, action or
proceeding,  any  claim that it is not personally subject to the jurisdiction of
any  such  court,  that  such  suit,  action  or  proceeding  is  brought  in an
inconvenient  forum  or  that  the  venue  of such suit, action or proceeding is
improper.  Each  party hereby irrevocably waives personal service of process and
consents  to  process  being  served  in  any such suit, action or proceeding by
mailing a copy thereof to such party at the address for such notices to it under
this Agreement and agrees that such service shall constitute good and sufficient
service  of process and notice thereof. Nothing contained herein shall be deemed
to  limit  in any way any right to serve process in any manner permitted by law.
EACH  PARTY  HEREBY  IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO
REQUEST,  A  JURY  TRIAL  FOR  THE  ADJUDICATION  OF ANY DISPUTE HEREUNDER OR IN
CONNECTION  HEREWITH  OR  ARISING  OUT  OF  THIS  AGREEMENT  OR  ANY TRANSACTION


 
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